Current Market Outlook: The European aviation market is expected to grow

Boeing projects a demand for 38,050 new airplanes over the next 20 years, an increase of 3.5 percent from last year’s forecast. Boeing released its annual Current Market Outlook (CMO) on June 11th, estimating the total value of those new airplanes at $5.6 trillion.

Also the European aviation market is expected to grow over the next 20 years, with airlines forecast to acquire more than 7,300 new airplanes valued at over $1 trillion. Single-aisle airplanes will comprise the majority of deliveries, representing a 79 percent share of total deliveries. While European aviation growth is slower than aviation growth in emerging economies, the region’s large installed base of more than 4,400 airplanes supports substantial demand for replacement airplanes. Replacement demand will account for 57 percent of Europe’s total new airplane market.

Current Market Outlook is The Boeing Company’s long-term forecast of passenger and cargo traffic and its estimate of the number of airplanes needed to support the forecast. The forecast is published annually to factor in changing market forces affecting the industry.